Welcome to our dedicated page for Fair Isaac news (Ticker: FICO), a resource for investors and traders seeking the latest updates and insights on Fair Isaac stock.
Fair Isaac Corporation (FICO) (NYSE: FICO) generates a steady stream of news related to analytics software, credit scoring, fraud management, and decisioning technology. As the company behind the FICO Score and a range of analytics and optimization products, FICO regularly issues updates on financial results, product enhancements, strategic partnerships, and industry insights.
News about FICO often includes quarterly and annual earnings announcements, where the company reports performance across its Scores and Software segments and discusses trends in recurring revenue, cash flow, and segment metrics. These releases provide context on how its scoring and software businesses are evolving over time.
Product and technology updates are another key theme. Recent communications have highlighted advances in FICO Xpress Optimization, such as GPU-accelerated algorithms using NVIDIA CUDA-X libraries to speed up very large optimization problems. FICO also publishes information on enhancements to fraud detection tools like FICO Falcon Fraud Manager and on decisioning capabilities within its platform.
FICO’s news flow also covers partnerships and ecosystem developments. Examples include collaborations with Plaid on the next-generation cash flow UltraFICO Score, alliances with firms such as GFT Technologies on smart finance and risk management, and agreements with mortgage industry participants like Xactus, Cotality, and Ascend Companies under the FICO Mortgage Direct License Program. These stories illustrate how FICO’s technology is integrated into broader financial and risk-management infrastructures.
In addition, FICO releases market commentary and benchmark data, such as its UK Credit Card Market Reports, which analyze trends in spending, balances, and missed payments using data derived from FICO solutions. Investors, analysts, and industry professionals can use this news page to follow developments in FICO’s business, technology roadmap, and role in global credit and risk analytics.
FICO will host a free financial education webinar titled 'Score A Better Future' on
FICO (NYSE: FICO) announced that SIMAH has won the 2022 FICO® Decisions Award for its efforts towards financial inclusion in Saudi Arabia. The introduction of the FICO® Score has allowed millions of Saudis to access loans since its launch in 2011. SIMAH's collaboration with lenders and consumer education initiatives have improved credit access, demonstrating a positive impact on financial inclusion. The FICO® Score's predictive capabilities have enabled lenders to expand their portfolios by accurately assessing borrowers, allowing them to tap into previously underserved markets.
FICO has been awarded eleven new patents focusing on fraud, AI/ML, and digital decisioning, increasing its portfolio to 208 active patents and 83 pending applications. These patents enhance FICO's technologies for ethical AI and machine learning, aimed at improving decision-making systems. Innovations include advanced fraud detection methods and analytics solutions integrated into their product offerings like FICO® Falcon® Fraud Manager and FICO® Siron® Anti-Financial Crime Solutions. FICO continues to solidify its position as a leading AI innovator in the financial services sector.
The 2021 European Fraud Map by FICO shows that the UK continues to lead in fraud loss reductions, achieving a net decrease of £49 million, a 9% drop year-on-year. Despite a 32% increase in card threat levels, only four out of 18 studied countries improved their performance. The report highlights a rise in Authorised Push Payment (APP) fraud, with losses amounting to £583.2 million. Denmark and Sweden report the highest percentage declines in fraud losses, while the Netherlands faces an 18% increase. Overall, the downward trend in card fraud indicates a positive shift in fraud management strategies.
The latest analysis from FICO indicates that the national average FICO® Score remains unchanged at 716, marking a significant shift in consumer credit behavior as it is the first year without an increase. Factors contributing to this stability include a rise in missed payments, higher consumer debt levels, and an increase in new credit acquisitions. FICO plans to keep monitoring trends affecting credit risk, particularly in light of current inflation and economic conditions.
FICO invites nominations for the 2023 FICO® Decisions Awards, celebrating outstanding use of AI and decision management by its customers. Submissions are due by October 28, 2022, across ten categories including AI, Fraud Management, and the new Pioneer Award. Winners will be announced on January 26, 2023, during FICO® World in Hollywood, Florida, from May 16-19, 2023. A panel of independent judges will evaluate entries based on innovation and measurable impact in key metrics.
FICO (NYSE:FICO) reported third fiscal quarter 2022 revenues of $349 million, up from $338 million year-over-year. Net income was $93.5 million ($3.61 per share), significantly lower than $151.2 million ($5.18 per share) in the prior year, which included a $92.8 million pre-tax gain from a sale. Non-GAAP net income increased to $115.7 million ($4.47 per share). The company recorded strong performance with 9% growth in Software Annual Recurring Revenue (ARR) and reaffirms fiscal 2022 guidance of $1.355 billion in revenue.
FICO (NYSE:FICO) will announce its third quarter fiscal 2022 results on August 3, 2022, post-market hours. The company is recognized for its predictive analytics and decision management software. A conference call is scheduled for the same day at 5:00 p.m. Eastern Time, which will be webcast live on the FICO Investor Relations website. FICO continues to leverage its extensive patent portfolio to drive growth and profitability across industries, including financial services and healthcare.
FICO announced that its Resilience Index has been utilized by over 200 financial institutions, with more than 2.5 billion scores delivered in the past 18 months. This innovative tool augments the FICO Score by providing additional credit risk insights, allowing lenders to make informed decisions amidst economic uncertainty. The latest version, FICO Resilience Index 2, offers enhanced predictive capabilities, doubling the power to assess consumer resilience. This development supports a variety of lending products and is obtainable from major US credit bureaus.
FICO (NYSE: FICO) reports that 70% of Thailand's retail banking consumers faced income drops due to the pandemic, prompting significant shifts in banking preferences. A survey reveals that 73% will prioritize savings while 66% will focus on investments. Notably, over 20% of affluent Thai customers are likely to switch banks for better offers, doubling from last year. Despite a challenging environment, many continue to maintain or increase investments, with 47% deferring loan repayments. The rise in digital banking adoption is also significant, as 72% opt for fintech solutions over traditional banking services.